The 50-50 raffle is probably the most popular of all fund-raising programs and the easiest to accomplish. It can be run at every event of your organization and only needs a supply of double roll tickets. The idea is to sell tickets at a range, Usually 1 for a dollar, 3 for two dollars and 10 for five dollars. A ticket is drawn at the end of the event or meeting and the prize is one half of the total monies collected, with the other half going to the organization. There are several variations which can be considered. They ultimately provide more funds and add excitement to the program. A deck of cards is needed for these variations.
The JACKPOT version divides the funds up into thirds, with the winner receiving one third of the pot each time the 50-50 is done. In one version the winner can keep his winnings or draw a card for the jackpot. After a card is drawn it is discarded, so the odds go down each time a card is drawn. The jackpot pays out when the player draws the lucky card, usually the ace of spades, though other cards can be used as a winner. The jackpot consists of one third of all the cumulative funds collected. In the early going most will keep the funds, but as the jackpot grows from event to event, a winner may try for the jackpot and the third remains with the organization.
In The JOKER version, the winner usually keeps the smaller winnings and gets to pull a card for the Jackpot, but if he pulls a Joker out of the deck, the winner must return his winnings. While each card is removed from the deck as pulled, the Jokers are always returned to the deck, so as time goes on, the Jackpot grows, but the winners have a greater chance of losing their winnings. Both of these versions provide greater earnings potential, as the players become more excited and contribute more as the jackpot grows.
In the JACKPOT version the odds of a jackpot paying out is once in 26 times, and the JOKER Version the jackpot pays out more slowly. I have seen the JOKER and JACKPOT versions grow to the low four figures in a thirty member Rotary Club. Each week tickets are sold for raffle. Instead of a cash prize, the winner can pick a card from the deck. As in the JACKPOT version mentioned above, if the card is not a winner it is destroyed. This version keeps building the cash prize until the winning card is drawn. It is possible that only the last card is the winner.
The FINAL CARD version is another way to play, if It gets down to the last card, then a new deck is added and now you have two winning cards. When the first one is drawn the winner gets on half of the pot.
Still another version called ACES, uses the joker as the winner. However when one of the four aces are drawn the winner receives that weeks earnings, as a prize. This version has more winning chances for a cash payout and may be more favorable for an organization.